April 28, 2021 Terry’s Tips Trade Alert - Wiley Wolf Portfolio

With MSFT down nearly 3%, we will lower delta by selling some far out-of-the-money call spreads that have little theta remaining. We’re also rolling down a call:

BTC 1 MSFT 30Apr21 272.5 call (MSFT210430C272.5)
STC 1 MSFT 18Jun21 275 call (MSFT210618C275) for a credit of $1.80 (selling a diagonal) (100%)

BTC 1 MSFT 30Apr21 270 call (MSFT210430C270)
STC 1 MSFT 18Jun21 275 call (MSFT210618C275) for a credit of $1.75 (selling a diagonal) (100%)

BTC 1 MSFT 30Apr21 270 call (MSFT210430C270)
STC 1 MSFT 18Jun21 270 call (MSFT210618C270) for a credit of $2.65 (selling a calendar) (100%)

BTC 2 MSFT 30Apr21 267.5 calls (MSFT210430C267.5)
STO 2 MSFT 30Apr21 255 calls (MSFT210430C255) for a credit of $1.70 (selling a vertical) (100%)


Be prepared to change this (these) price limit(s) by $.05 or more in order to get an execution.

Happy trading.

Terry